"In 2011-12 it exported almost $40 billion worth of produce, but in Australian dollar terms this has been reduced by $18.9 billion.

"This represents a decrease of 47% in export income because of the high exchange rate attributable to the mining boom."

The paper emphasises the wider macro economic effects of the mining boom, arguing if the Australian dollar remained at 2003-04 levels for the following eight years, an extra $61 billion would have been earned through agricultural exports.

Figures from the Australian Bureau of Statistics also show the rural export earnings rose from about $26 billion in 2003-04 to $34 billion in 2011-12.

In the same figures, as the mining boom grew, Australia's gross domestic product earnings rose from $859 billion in 2003-04 to $1474 billion in 2011-12.